Finland increases its holding in Nokia and Konecranes

FILE PHOTO: A man uses his mobile phone near a banner displaying a Nokia logo during the Mobile World Congress in Barcelona, Spain, February 25, 2018. REUTERS/Yves Herman

HELSINKI (Reuters) - The Finnish government’s investment arm Soliudium said on Monday it had raised its stakes in both telecom equipment maker Nokia and in crane maker Konecranes over the past six months.

Solidium said it had acquired shares in Nokia for 95 million euros ($108 million), increasing its holding to 3.7 percent from 3.3 percent and shares in Konecranes for 29 million euros, increasing its holding to 7.4 percent from 6.2 percent in the latter half of 2018.

In March 2018, Solidium spent about 844 million euros to build its earlier 3.3 percent stake in Nokia to strengthen national influence over the telecom network gear maker.

Reporting by Anne Kauranen; Editing by Kirsten Donovan